5870 Franklin Ave, Hollywood — 38-Unit Multifamily, $8.5M (Jan 2022)

Updated April 28, 2026

Units: 38 · Sale price: $8,512,500 · Price per unit: $224,013 · Closed: January 2022

A 38-unit larger multifamily property at 5870 Franklin Ave in Hollywood, sold January 2022 for $8,512,500 — approximately $224,013 per unit.

2022 LA multifamily held at peak pricing through mid-year, then began the rate-driven repricing that would define 2023.

Hollywood is one of the most-demanded mid-city LA submarkets, with deep institutional interest and a predominantly pre-1978 building mix that now falls under the revised LA City RSO.

Larger multifamily at this scale draws institutional and private equity capital with deeper underwriting processes and longer hold horizons.

Set against the rest of the Hollywood record, this is the 4th largest of the 24 Hollywood apartment buildings Michael Sterman has closed.

At $224,013 a unit it sits below the Hollywood median of $282,589 — which is what size does to a per-unit number. This building is larger than the median Hollywood closing at 19 units, and per-door pricing falls as unit count rises almost everywhere in Los Angeles. A citywide average per unit is not information; the comparable set has to match the building's size.

Other Hollywood closings the same year: 6700 Franklin Ave (42 units, $17,072,000), 2030 Ivar Ave (16 units, $7,000,000), 1212 N Gower St (16 units, $7,325,000).

This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.

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Related

• Selling Multifamily Property in Hollywood
• Hollywood: the neighborhood, its buildings and what they sell for
• How to Sell a Multifamily Property in Los Angeles
• Request a free evaluation of your building
• Verify this sale independently — search public records and coverage for this transaction yourself

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Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.